XTX Topco Ltd Makes New Investment in Hess Co. (NYSE:HES)

XTX Topco Ltd acquired a new stake in Hess Co. (NYSE:HES) in the second quarter, HoldingsChannel.com reports. The fund acquired 9,831 shares of the oil and gas producer’s stock, valued at approximately $1,450,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Manchester Capital Management LLC lifted its holdings in Hess by 1.4% during the 1st quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after purchasing an additional 68 shares during the last quarter. Drive Wealth Management LLC raised its position in shares of Hess by 1.6% in the second quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after purchasing an additional 72 shares during the period. Quent Capital LLC lifted its stake in shares of Hess by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 73 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Hess by 17.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 77 shares during the period. Finally, Versant Capital Management Inc grew its stake in Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after buying an additional 78 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Trading Up 0.7 %

Shares of Hess stock opened at $134.40 on Friday. The firm’s 50-day moving average price is $138.17 and its two-hundred day moving average price is $147.00. The company has a market capitalization of $41.41 billion, a price-to-earnings ratio of 20.58 and a beta of 1.15. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess Co. has a 12-month low of $123.79 and a 12-month high of $167.75.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, analysts forecast that Hess Co. will post 11.04 earnings per share for the current fiscal year.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is 30.63%.

Analysts Set New Price Targets

Several brokerages have issued reports on HES. Mizuho cut their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Citigroup reduced their price target on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Piper Sandler decreased their price objective on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Scotiabank dropped their target price on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, BMO Capital Markets downgraded shares of Hess to an “overweight” rating and decreased their price target for the company from $175.00 to $160.00 in a research note on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.31.

About Hess

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.